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CYPRUS
How to run a company in Cyprus?
Guide Scope: National
Guide Type: Official information & tips
In Cyprus you can create your own company as an individual or with partners. Before proceeding further you must decide what type of company you will establish. The types of companies are listed below:
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Private limited liability company by shares
Such a company has a share capital, and the liability of its members is limited by its memorandum of association to any unpaid amount, for the shares they hold.
A private limited liability company by shares must have at least one (1) shareholder but no more than fifty (50), exclusive of any persons who are or have formerly been in the employment of the company and are or still continue to be members of the company.
A private limited liability company cannot offer its shares for subscription to the public. This is the most common type of a company.
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Public limited liability company by shares
This company has a share capital and the liability of its members is limited by its memorandum of association, to any unpaid amount, for the shares they hold respectively.
A public limited liability company may invite the public to subscribe for its shares and may be listed on the stock exchange. The number of members of a public company must be at least seven (7).
The minimum authorized and issued capital of a public company, which is offered for subscription, must be twenty-five thousand, six hundred and twenty-nine euros (€25.629).
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Limited liability company by guarantee without share capital
This type of company does not have a share capital and its members act as guarantors rather than shareholders. The liability of its members is limited by its memorandum of association, up to the amount that the members have undertaken to contribute respectively to the assets of the company in case of dissolution.
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Limited liability company by guarantee with a share capital
This company has a share capital and the liability of its members is limited by its memorandum of association, on the one hand, up to any unpaid amount for the shares they hold, and on the other, up to the amount that its members have respectively undertaken to contribute to the assets of the company in case of dissolution. This type of company can be either private or public. If it is a public company it can invite the public to subscribe for its shares.
The next step would be to decide a business name. This name should be unique in order to be able to register the company. Certain restrictions may apply which can be viewed here
The final step is the registration of the company at the company registrar here
Registering your company is only the first step however. Depending on what activities the company participates in and the products that it is offering you might need to apply for licensing. Also, you should look into what taxes you need to register, depending on the products sold.
Your Turn
Find detailed information on how to start a business in your area
How to run a company in Cyprus?
In Cyprus you can create your own company as an individual or with partners. Before proceeding further you must decide what type of company you will establish. The types of companies are listed below:
-
Private limited liability company by shares
Such a company has a share capital, and the liability of its members is limited by its memorandum of association to any unpaid amount, for the shares they hold.
A private limited liability company by shares must have at least one (1) shareholder but no more than fifty (50), exclusive of any persons who are or have formerly been in the employment of the company and are or still continue to be members of the company.
A private limited liability company cannot offer its shares for subscription to the public. This is the most common type of a company. -
Public limited liability company by shares
This company has a share capital and the liability of its members is limited by its memorandum of association, to any unpaid amount, for the shares they hold respectively.
A public limited liability company may invite the public to subscribe for its shares and may be listed on the stock exchange. The number of members of a public company must be at least seven (7).
The minimum authorized and issued capital of a public company, which is offered for subscription, must be twenty-five thousand, six hundred and twenty-nine euros (€25.629). -
Limited liability company by guarantee without share capital
This type of company does not have a share capital and its members act as guarantors rather than shareholders. The liability of its members is limited by its memorandum of association, up to the amount that the members have undertaken to contribute respectively to the assets of the company in case of dissolution. -
Limited liability company by guarantee with a share capital
This company has a share capital and the liability of its members is limited by its memorandum of association, on the one hand, up to any unpaid amount for the shares they hold, and on the other, up to the amount that its members have respectively undertaken to contribute to the assets of the company in case of dissolution. This type of company can be either private or public. If it is a public company it can invite the public to subscribe for its shares.
The next step would be to decide a business name. This name should be unique in order to be able to register the company. Certain restrictions may apply which can be viewed here
The final step is the registration of the company at the company registrar here
Registering your company is only the first step however. Depending on what activities the company participates in and the products that it is offering you might need to apply for licensing. Also, you should look into what taxes you need to register, depending on the products sold.
